Commercial Real Estate & Business News – July 17, 2017

One of the pioneers who helped reinvigorate downtown Phoenix nearly a decade ago with a risky condo project wants to take another risk – this time in downtown Mesa. Habitat Metro – known for Portland Place Condominiums…»
There’s a downside to the economic upturn, and it comes in a rather odd space-the ever-flush-and-fertile multifamily market. The rush by developers to cash in on upper-scale housing has contributed to a national dearth of product for those who need it most, namely the candidates for affordable and workforce housing…»
An arm of Lennar Corp. (NYSE: LEN) opened a new apartment development in Tempe on the Metro light rail. The Nexa apartments will have 399 units plus a Press Coffee shop and Kuka Sushi. The Tempe development is on Apache Boulevard between Rural and McClintock roads.…»
After being credited for steering the U.S. economy off the precipice in the global financial crisis through its massive stimulus program, the Federal Reserve is now facing the delicate task of paying the bills. The Fed is preparing to unwind a huge chunk of its $4 trillion portfolio of bond securities…»
Industrial sales in 2017 are expected to exceed 2016 totals, and are estimated to be at the second highest volume since 2007. Sales so far this year total $24 billion, with 245 million sq. ft. of industrial space trading hands. In May, the most recent month for which data is available, sales of industrial properties rose 23 percent year-over-year, to $5.2 billion…»